International Public Sector Accounting Standards (IPSAS)

IPSAS is becoming and will become the World standard for Public Sector entities. IFRS having replaced IAS is now becoming the world standard, but in many ways was not specific enough to the needs of the Public Sector.
Designed for finance professionals in the public sector the course will benefit anyone who requires an understanding of international financial reporting standards within the public sector.

It is also suitable for:

• Accountants and finance staff at all levels involved in the preparation of financial statements
• IFRS and IPSAS implementation and maintenance teams
• Internal auditors and consultants dealing with financial reporting

This programme will help our clients to assist not only in meeting the challenges of introducing IPSAS, but also to secure the benefits of improved financial management to help secure organisational objectives and goals of each public service organisation. It will also compare IFRS against IPSAS so that the participants can see the main differences.

The key topics covered are:

• Context of IFRSs and IPSASs
• Financial statement presentation
• Funding, revenue and expenditure
• Asset and liability reporting
• Entity consolidation and combination
• Disclosure and other matters
• Background to IPSAS
• The Technical Bases
• Links and implications to and for broader strategies: Financial Management, Taxation, Asset Management, Governance and accountability
• The Standards
• Financial reporting
• Satisfying donor & stakeholder requirements
• Implications for Internal and External Audit
• Impact on financial processes and systems
• Implementation
• How to formulate a documented action plan
• How to manage substantial financial resources
• How to develop skills to aid implementation, capacity development, benefits realisation and risk management plans
• How to provide wider training and how to contribute to the strategic consequences of IPSAS
• How to implement
• How to reduce risk of qualified accounts